Cobalt Power Group Inc. (TSXV:CPO; OTC PINK:CBBWF) is pleased to announce that it has received a comprehensive N.I. 43-101 Technical Report (the “Report”) focusing on the exploration potential of the Company’s Smith Cobalt and Canadian Cobalt Projects in the historic Cobalt and Silver Centre mining camps of northeastern Ontario.
Cobalt Power Group Inc. (TSXV:CPO; OTC PINK:CBBWF) is pleased to announce that it has received a comprehensive N.I. 43-101 Technical Report (the “Report”) focusing on the exploration potential of the Company’s Smith Cobalt and Canadian Cobalt Projects in the historic Cobalt and Silver Centre mining camps of northeastern Ontario. The Report was completed by CSA Global Canada Geosciences Ltd (“CSA Global”), with Ian Trinder as the lead author. A copy of the Report can be found at www.sedar.com.
The Report states that “CSA Global considers the Smith and Canadian Cobalt Projects to be at an early stage of exploration and recommends a multifaceted exploration program including historical and current data compilation, continued airborne geophysical surveys to cover both Project areas, prospecting, geological mapping, testing of ground geophysical and geochemical methods with follow-up surveys and finally diamond drill testing of targets developed from these programs.”
CSA Global also stated: “The Projects have potential for additional cobalt-silver discoveries near historical mines and mineral occurrences and for new mineralized zones in areas with little past exploration (particularly the Canadian Cobalt Project area).”
The Company is currently undertaking such a program, concentrating initially on airborne geophysics, with follow up prospecting, mapping and sampling.
About Cobalt Power Group Inc.
Cobalt Power is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange and U.S. Pink Sheets (TSXV: CPO, OTC Pink: CBBWF) focused on cobalt exploration and development.
The Company has made a series of strategic property acquisitions over the past two years, seeking cobalt mineralization near Cobalt, Ontario, a region with a long history of silver and associated cobalt production. Property holdings total approximately 11,680 hectares (28,861 acres) in contiguous and strategic claim blocks. There are several historic mines on the properties that are potentially accessible, including the Smith Cobalt shaft and its underground workings.
Chris M. Healey, P. Geo, VP Exploration and a Director of Cobalt Power Group, is the qualified person responsible for the technical content of this release, and consents to its dissemination.
Information related to the NI 43-101 Technical Report contained in this news release has been reviewed and approved by the Report author, Ian D. Trinder, P. Geo., a Principal Geologist of CSA Global and independent Qualified Person as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of the information.
Cobalt Power is announcing the resignation of Greig Hutton as CEO, President and Director. The Board of Directors wish to thank Mr. Hutton for his service.
On behalf of the Board of Directors
Cobalt Power Group Inc.
We seek safe harbor.
The company’s profile may also be viewed on www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for “forward looking” statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Cobalt Power Group Inc
For further information: Glenda Kelly, Investor Communications at: 403-830-1436.